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EUR/GBP visits session lows near 0.7410

FXStreet (Edinburgh) - The softer tone around the single currency is prompting EUR/GBP to deflate to daily troughs in the 0.7410 area.

EUR/GBP focus on UK, EMU releases

The European cross is managing quite well to keep the trade above the key 0.7400 barrier so far, coming down from yesterday’s multi-week tops near 0.7440. Ahead in the session, another revision of the UK GDP during the second quarter will put the sterling under some pressure.

Back to the euro area, German Retail Sales and Unemployment figures are also due, followed by the more relevant inflation figures in the region. Consensus sees core consumer prices to have risen at an annual pace of 0.9% during the current month, matching August’s numbers.

EUR/GBP relevant levels

As of writing the cross is losing 0.14% at 0.7414 and a break below 0.7403 (low Sep.29) would open the door to 0.7335 (low Sep.28) and then 0.7303 (low Sep.25). On the flip side, the next hurdle lines up at 0.7436 (high Sep.29) followed by 0.7449 (high May 6) and finally 0.7483 (high May 7).

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